An unexpected expense can mean she has to pull a child out of school or sell a cow the family relies on for income. Or, worse, it can mean she must give birth at home without medical assistance because she doesn’t have the money for a ride to a clinic.
In ways big and small, life without access to financial services is more difficult, expensive and dangerous. It constrains a woman’s ability to plan for her family’s future. At the community level, it traps households in cycles of poverty. More broadly, it limits the economic growth potential of developing countries.
So it is not hard to understand why the spread of new digital financial services to the world’s poorest places has been heralded as a breakthrough with the potential to alter the global economy."
Read article by Melinda Gates from The New York Times.